Facade of GAP retail store with logo sign on a sunny day, San Francisco, California, June 7, 2024.
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Trading in Gap shares was suspended on Thursday morning after quarterly results gave the impression to be released early.
The clothing retailer is predicted to release its second-quarter results on Thursday after the stock market closes. Bloomberg reported that a presentation with the outcomes briefly appeared on Gap’s website that morning.
The results appeared to not be posted on Gaps’ website when trading was halted shortly before 10 a.m. ET. Shares had fallen nearly 1 percent before the trading halt.
Gap didn’t immediately reply to a request for comment.
Gap’s earnings come at a time when CEO Richard Dickson, who took the helm last yr, is attempting to turn across the long-standing retailer’s sales. The company already showed positive signs in the primary quarter, when it posted comparable sales increases across all 4 of its brands, Gap, Banana Republic, Athleta and Old Navy.
Investors are watching per week of mixed retail earnings for signs of whether consumer spending will slow within the second half of the yr. Dollar-General Shares plunged Thursday morning after the discounter drastically cut its sales and profit forecasts, citing partially “financially constrained” low-income consumers as the rationale.
Both American Eagle Outfitters And Best buy showed progress in improving profits during earnings reporting on Thursday. However, the clothing retailer gave a muted outlook for the second half of the yr while the electronics giant remains to be working to return to sales growth.
Lululemon And Ulta Beauty may also publish the outcomes on Thursday after the stock market closes.
This story is developing. Please check back later for updates.
